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Keywords: Real Estate
Dual key apartments
Issue Date: 4-Jan-2010
Citation: SEE TOH WEI HAN (2010-01-04T08:16:13Z). DUAL KEY APARTMENTS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: In 1987, the Housing Development Board (HDB) introduced ‘multi-generation flats’ aimed at enhancing intergeneration support. However, the flats did not serve its purpose and construction ceased due to poor response from the public. Some twenty years later, Fraser Centrepoint Homes (FCH) launched in 2009 ‘dual key apartments’ which have a similar concept as multi-generation flats. This layout has a studio apartment attached to a two-bedroom unit and is about ten per cent larger than a regular three-bedroom unit. In contrast to multi-generation flats introduced by the HDB, dual key apartments offered by private developers are well received. Using both qualitative and quantitative research tools, this research examines the key demand drivers for dual key apartments in Singapore. The study found that installation of elderly friendly facilities in such apartments and the option of removing the partition between the studio unit and the two-bedroom unit increase the appeal for such units. In addition, the ability to generate extra income by renting out the studio apartment and the social factor of intergeneration support have contributed to the desirability of dual key apartments. Furthermore, most of the respondents and the interviewees were willing to invest in dual key apartments and expressed their optimism about the future of this development concept. The concept of offering flexibility to accommodate varying housing needs has created avenues as well as business opportunities for developers to leverage on the rising interest in smaller housing units and to consider the feasibility of the dual key concept in Singapore. Key words: Dual key apartments, Intergeneration
Appears in Collections:Bachelor's Theses

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